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I don't know that this "transparent" inflation target game is really better than when the Fed kept mum about their plans. Investors, or at the very least financial media, now have what I'd call a very unhealthy preoccupation with what the Fed is going to do. If signs point to Fed loosening, market goes up, if signs point to Fed tightening, market goes down. [more]

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On Friday for whatever reason I found myself possesed to throw in my DVD copy of Wall Street. Great idea. Every time I watch that movie it just gets better. The movie seems particularly fitting now with all of the PE buyout activity going on. In fact, as I mentioned in my Dueling Fools article on private equity, there is talk going around that there is, in fact, another Wall Street in the making (some have told me that's a contrary indicator). [more]